India will grow to a 6-trillion-dollar economy – Morgan Stanley

Global financial services majorMorgan Stanley report predicts that India is likely to be the world’s fastest-growing large economy in the next 10 years, driven by digitisation, favourable demographics, globalisation and reforms.According to Morgan report the trend line in India’s annual GDP growth has been accelerating to 6.9 percent in 2000s, from 5.8 percent in the 1990s, and this momentum is likely to continue in the next decade as well.Financial services major expects digitisation will provide an enhancement of 50-75 bps to GDP growth and forecast that India will grow to a 6-trillion-dollar economy and achieve upper-middle income status by 2026-27.